Yahoo's Stock Climbs After Company Forms Committee To Explore Alternatives

Yahoo Inc.'s stock climbed 2.5% in premarket trade Friday, after the Internet company said it formed a committee to explore strategic alternatives. The company has engaged Goldman Sachs & Co. Inc. , J.P. Morgan and PJT Partners Inc. as financial advisors. The committee and advisors are reaching out with potentially interested strategic and financial partners. The company said it will still pursue a separation of its stake in Chinese e-commerce giant Alibaba Group Holding Ltd. . The announced in early February that it was pursuing strategic alternatives. Some analysts have speculated that a major media company might be interested in Yahoo's Web properties if they came up for sale. Yahoo's stock has tumbled 34% over the past 12 months, while the S&P 500 has lost 8.6%.